Victory Capital Management Inc. Has $38.82 Million Stake in Ryder System, Inc. (NYSE:R)

Victory Capital Management Inc. trimmed its stake in Ryder System, Inc. (NYSE:R - Free Report) by 12.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269,914 shares of the transportation company's stock after selling 37,160 shares during the period. Victory Capital Management Inc. owned approximately 0.65% of Ryder System worth $38,816,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Earnest Partners LLC grew its position in shares of Ryder System by 2.4% during the 4th quarter. Earnest Partners LLC now owns 1,905,223 shares of the transportation company's stock worth $298,853,000 after buying an additional 45,393 shares in the last quarter. Sei Investments Co. grew its position in shares of Ryder System by 1.6% during the 4th quarter. Sei Investments Co. now owns 856,507 shares of the transportation company's stock worth $134,351,000 after buying an additional 13,529 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ryder System by 0.3% during the 4th quarter. American Century Companies Inc. now owns 843,895 shares of the transportation company's stock worth $132,373,000 after buying an additional 2,121 shares in the last quarter. FMR LLC grew its position in shares of Ryder System by 3.1% during the 4th quarter. FMR LLC now owns 805,571 shares of the transportation company's stock worth $126,362,000 after buying an additional 24,052 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Ryder System during the 4th quarter worth $97,844,000. 87.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

R has been the topic of several research analyst reports. Wolfe Research upgraded Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 target price on the stock in a research note on Tuesday, July 1st. Stephens dropped their target price on Ryder System from $168.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Susquehanna began coverage on Ryder System in a research note on Tuesday, July 15th. They set a "positive" rating and a $215.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Barclays began coverage on Ryder System in a research note on Monday, June 9th. They set an "overweight" rating and a $190.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $179.43.

Insider Activity at Ryder System

In other news, Director E Follin Smith sold 1,243 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $144.38, for a total transaction of $179,464.34. Following the transaction, the director owned 39,802 shares in the company, valued at $5,746,612.76. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert E. Sanchez sold 18,496 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the transaction, the chief executive officer owned 40,824 shares in the company, valued at approximately $6,357,521.52. This trade represents a 31.18% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Ryder System Trading Up 0.4%

R stock traded up $0.76 during midday trading on Wednesday, hitting $172.52. The stock had a trading volume of 757,291 shares, compared to its average volume of 332,026. The firm has a market cap of $7.13 billion, a PE ratio of 15.04 and a beta of 0.97. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.73 and a quick ratio of 0.73. Ryder System, Inc. has a 12-month low of $123.36 and a 12-month high of $177.40. The company's 50-day moving average price is $158.65 and its 200 day moving average price is $153.40.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 EPS. On average, equities research analysts predict that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 18th will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, August 18th. This is a positive change from Ryder System's previous quarterly dividend of $0.81. This represents a $3.64 annualized dividend and a yield of 2.11%. Ryder System's dividend payout ratio is currently 28.25%.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.